Is Correction In QNT Crypto About To End As It Witnesses Buying?

• A huge surge in the Quant crypto trading volume has been recorded over the last 24 hours.
• The crypto price volatility is high, resulting in 7.54%, as per the analysts.

The value of the traded volume for Quant (QNT) crypto has witnessed a huge surge of 81% in the last 24 hours, while the price overview chart shows that the price has declined over the last few weeks.

Despite the overall decline in the QNT crypto price over time, in the last 24 hours, it has witnessed a surge of 10.5% as of press time. Additionally, the Quant crypto market cap value is $943.576M.

Quant’s market cap ranking is #71 as per CoinMarketCap and has a volume/market cap ratio of 2.79% at press time. Moreover, 81% of the maximum crypto supply is circulating in the market. This results in a circulating supply of 12.072M QNT, followed by a maximum supply of 14.881M QNT. 

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The market cap dominance of Quant crypto is 0.04%, and it was released on the 25th of June 2018. The crypto sentiment is bearish, followed by the fear and greed index at 30. This indicates fear among investors, which might result in crypto profit bookings. 

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Quant Crypto Derivatives Data Analysis

The open interest in Qunat crypto has advanced by 13% in the last 24 hours, showing the addition of several open positions in the crypto. 

The liquidation chart of Quant crypto shows higher long liquidation over time, which shows that bears have dominated the crypto price for a long time.

The value of the derivatives traded volume for the crypto has advanced 180% over the last 24 hours from the press time. This further resulted in a traded value of $46.53M, and the recorded long liquidation for the crypto was higher than that of the liquidated shorts. 

The overall derivatives data for the crypto represents sellers’ dominance over the crypto price. 

QNT Crypto Technical Analysis

The QNT crypto price has been trading inside a falling wedge pattern for a long time, making the price decline to certain lows.

The QNT crypto price was trading in a strong uptrend from the middle of October 2023 to the end of December 2023. Since the beginning of the new year, the QNT crypto price has lost its pace and has started to witness profit booking from the swing high of $153.83. 

The decline in the crypto price was followed by a double top on the daily chart, which further resulted in lower low swing points forming.

Additionally, the crypto price has consistently gained over the last two days following the most recent price action. If the crypto price further breaks above the falling wedge pattern, it might lead to a further surge in the price, followed by attracting more buyers to the crypto. 

The technical indicators, on the other hand, show a strong downtrend in the crypto as the crypto price is trading below significant EMAs on the daily chart. 

The MACD and the signal line further on the daily crypto chart are trading in a bearish trajectory. The histograms further formed on the chart are unidirectional, showing uncertainty regarding the price.

The RSI further follows a bearish cycle followed by the closing below the oversold zone on the daily chart. At press time, the RSI is at a level of 43 and has broken above the 14-day SMA, which shows uncertainty in the momentum of the crypto. 

Quant (QNT) Crypto witnessed a Massive Surge

Quant (QNT) crypto has seen an 81% surge in trading volume and a 10.5% price increase in the last 24 hours. 

Despite this, the sentiment remains bearish, with high price volatility and a fear and greed index at 30. Technical indicators suggest continued uncertainty in its price momentum.

The support levels of the QNT crypto are $40.00 and $65.00, respectively, followed by resistances of $101.0 and $116.0.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.